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Today we are opening a new bearish trade on General electric (US:GE).
Report GE last week was “less bad” than expected. However, resistance holds and the stock falls.
The current management is facing protests at the shareholders ‘ meeting and promises about fixing the company after a difficult year that doesn’t Bode well for the stability of GE.
We believe that the downtrend is likely to assert itself and that the stock will break to new lows in the short term.
To open a GE June 14 put (GE180615P00014000) at the maximum price of $0.69.
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